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Informative Articles

Introduction to Project Management for entrepreneurs
One of the greatest benefits of projects in an organisational context is their ability and effectiveness in the achievement of goals. The success or failure of projects is largely related to the way that managers develop tactics or plans for the...
Issue Management Methodology for Tracking Project Issues
1. What is an Issue? An issue is an incident, circumstance, problem or inquiry that affects or potentially affects the timely delivery of the project, product or service, it may also impact the quality of deliverables and the cost of production....
Money management guide
When the prices of commodities are booming and expenditure is increasing in every manner, it becomes essential to make some planning for your income. * The best way to take care of your money is to plan a budget. A budget should keep a track of...
Performance Management is Not Difficult
Performance Management is a process that both employer and employee often fear! Why is this so! There is much misinformation about the performance management process and performance appraisals in management circles today. We often think that best...
TIME MANAGEMENT? NO!
Many people want to be coached to manage their time better. I say NO! to that. You cannot manage time anyway; it just keeps ticking away no matter what you do. What you can do is manage yourself based on the two concepts I keep mentioning:...
 
CRM 101: Customer Relationship Management for Beginners

Customer Relationship Management, abbreviated “CRM,” is the term for a business strategy that is designed to improve customer service. CRM is also designed to increase customer satisfaction and gain new customers, thus increasing a business’ revenue. CRM is a term that can be applied to software and an entire business strategy.

How Does CRM Work?

Essentially, CRM works by gathering information about customers and analyzing the information collected. An example of this would be supermarket discount cards (I.E. Kroger Plus Cards, ACME cards, Giant Eagle cards, etc...). When a consumer scans his or her card, and then his or her items, the items that customer bought are entered into a database. This gives businesses an accurate idea of which customers buy what. Businesses then analyze this information. After analyzing the data collected, businesses can adjust their marketing campaigns and increase sales. Customer Relationship Management brings the company closer to the customer. CRM closes a “relationship gap” that can be formed between the business and its customers.

CRM is also useful for customer service. Businesses can use automated CRM applications to analyze customer complaints, or compliments, and change the business processes accordingly. Interestingly enough, CRM products also run many automated call-centers for businesses (I.E. customer service systems). CRM applications and practices are used to make businesses more efficient and improve customer satisfaction.

What Can a Business Gain From Using CRM?

There are many goals that businesses have when implementing CRM techniques and applications. The business wants to improve customer service, which will subsequently improve customer satisfaction. The business also wants to maximize revenue by advertising the


right products to the right people. In other words, businesses want to know what customers want. Once a business finds what a customer wants through a CRM method, the business can then provide the customer exactly what he or she desires. This will lead to returning customers, and the gaining of new customers. CRM processes also are designed to monitor all of the contact between customers and companies. Maintaining a positive relationship with one’s customers is an essential element in business. Well-rounded CRM works to ensure that this element exists.

CRM Applications

CRM applications are applications that run on the same principals as Microsoft Word and Excel. There are many values that can be filled in. Once these values are filled in, the data needs to be analyzed and interpreted. A major advance in CRM application technology is the invention of applications, which can collect data, and analyze it at the same time. This new technology will make CRM even more effective and efficient.

Conclusion

For any business, successful Customer Relationship Management navigation is becoming increasingly important in today’s competitive business world. Customer expectations are always increasing, and business services must increase along with these expectations. CRM is the method through which businesses can connect with their customers and therefore serve them better. Businesses with successful CRM strategy and applications will notice a large increase in sales, customer satisfaction, and simply the overall success of the business.

For the latest news and information concerning CRM, visit http://www.crmblog.org. This site is updated daily by Mr. Scott Hawksworth.

About the Author

Scott Hawksworth is a writer for a CRM Blog.

 

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